COE prices for bigger cars lowest in eight years

Certificate of entitlement prices finished lower for cars and motorcycles in the latest tender on June 6, 2018.
Certificate of entitlement prices finished lower for cars and motorcycles in the latest tender on June 6, 2018.PHOTO: ST FILE

SINGAPORE - Certificate of entitlement (COE) prices finished lower for cars and motorcycles in the latest tender on Wednesday (June 6), less than a month from a new emission ruling that could further lower premiums.

COE premiums for cars up to 1,600 and 130bhp ended at a nine-month low of $36,426, down from $38,001 previously. COE prices for cars above 1,600cc or 130bhp closed at an eight-year low of $36,000, down from $37,989.

Prices for the Open COE, which can be used for any vehicle type except motorcycles, ended at$37,000 - the lowest since March 2010 - down from $38,700.

Commercial vehicle COE premiums remained almost unchanged at $29,902, from $29,901 previously. This premium is also at its lowest in a year.

Motorcycle COE premiums stood at $1 right up to the last five minutes of bidding. It then shot up to end at a six-month low of $7,001, down from $7,115.

Dealers expect premiums to plummet in the coming months when fine particulate matter is included in an emission scheme from July 1. They said a number of parallel imports will no longer be viable, and competition for COEs will ease.

Latest COE results:

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 36,426 38,001
B - Car (above 1600cc)  36,000 37,989
C - Goods vehicle & bus 29,902 29,901
D - Motorcycle 7,001 7,115
E - Open 37,000 38,700